If you haven’t considered outsourcing your company’s payroll efforts, now is the time. Whether you are a 2 person firm or a 200 person business, there are considerable benefits by using an outside company to process, file, and report your payroll activities. Here are a few of the direct benefits of outsourcing your payroll needs.
1. Outsourcing payroll saves you time and money.
Most businesses that process payroll internally do not truly understand the effort and time being spent on payroll changes, processing and filing. Did you know that the average 20 person firm spends $800 per month on payroll efforts? And the average 100 person firm spends $3,500 per month? Outsourcing payroll offers all the effort to be done at a fraction of the cost and none of the headaches. In addition, many of our clients are able to reduce their overhead by removing the need for a part-time or even full-time staff member. Hiring Business Financials is like hiring a full-time payroll department without the overhead!
2. Governmental changes in payroll processing is constant
If you have done payroll for any length of time, you will quickly admit that the changes with the IRS change constantly. Business Financials keep up to date with the latest changes, can notify you when they affect you, and proactively keep you in compliance.
3. Processing your own payroll puts you at risk.
According to the Internal Revenue Service, one out of three employers gets charged for a payroll mistake. With regulations constantly changing, tax filing omissions and errors are easier than ever to make. And the penalties aren’t cheap. Why spend more AND put yourself more at risk?
We take all the hassle out of payroll for you and your company.
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